List of Canadian insurance companies

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This is a list of Canadian insurance companies.

The top insurance providers in Canada are Manulife, Canada Life (subsidiary of Great-West Lifeco), Sun Life Financial, Desjardins, and IA Financial Group (aka Industrial Alliance).[1][2] Smaller insurers include those operating as subsidiaries of banks, such as CIBC Insurance and TD Insurance.[2]

Current insurance carriers[edit]

Bank-affiliated carriers[edit]

Government-owned insurance companies[edit]

Consolidation of former insurance carriers[edit]

Company Acquired by / Merged into Year acquired Notes
Aetna Canada Assurance Maritime Life 1999
Canada Life Assurance Company Great-West Lifeco. 2003
Clarica Life Assurance (formerly Mutual Life Assurance Co.) Sun Life Financial 2002
Commercial Union Life Assurance Manulife 2001
Confederation Life Assurance Co. Manulife and Maritime Life 1995 (receivership) Purchase of its Canadian business units
Crown Life Assurance Co. Canada Life Assurance 1998
Dominion of Canada General Insurance Co. (aka The Dominion) The Travelers Companies 2013 Acquired by The Travelers Companies in November 2013, and became part of its subsidiary, Travelers Canada
Hartford Steam Boiler Inspection and Insurance Company Munich Re
Imperial Life Desjardins Group 1994
La Capitale Beneva Merged with SSQ Insurance to create Beneva.
Laurentian Life Imperial Life 1993
Liberty Health Maritime Life 2003
London Life Insurance Company Great-West Lifeco. 1997
Maritime Life Manulife 2004 Purchased by Manulife as part of the John Hancock Insurance acquisition.
Metropolitan Life Mutual Life 1998 Canadian operations purchased by Mutual Life (which later became Clarica Life Assurance)
Mutual of Omaha RBC Insurance 1998 Purchase of its Canadian operations
New York Life Canada Life Assurance Company 1994 Purchase of its Canadian operations
North American Life Manulife 1995 Merged
Ontario Blue Cross Liberty Health 1995 Group insurance operations obtained
Prudential Assurance Co. Sun Life Assurance Company of Canada 1996 Purchase of its Canadian operations
Prudential Insurance Co. of America London Life Insurance Company 1995 Purchase of its Canadian operations
Royal & SunAlliance Ins. Co. Maritime Life 2001 Purchase of its Canadian operations
UnumProvident RBC Insurance 2004 Purchase of its Canadian operations
SSQ Insurance Beneva Merged with La Capitale to create Beneva.
State Farm Desjardins Financial Security 2014
Westbury Canadian Life RBC Insurance 2004
Western Life Assurance Company[12] Wawanesa Life 2020 Amalgamated
Zurich Life Insurance of Canada Manulife 2001 Canadian group life & health business purchased

References[edit]

  1. ^ "The 5 Big Names in Canadian Insurance". Investopedia. Retrieved 2021-10-04.
  2. ^ a b "The Biggest Life Insurance Companies in Canada 2021 - Full List". www.policyadvisor.com. Retrieved 2021-10-04.
  3. ^ "Who we are". www.assurant.ca. Retrieved 2021-10-04.
  4. ^ "About Us". Canadian Premier. Retrieved 2021-10-04.
  5. ^ "Homepage". www.combinedinsurance.com. Retrieved 2021-10-04.
  6. ^ Canada, Equitable Life of. "Equitable Life Insurance Company of Canada". www.equitable.ca. Retrieved 2021-10-04.
  7. ^ "Humania Assurance, a leader in health insurance products". www.humania.ca. Retrieved 2021-10-04.
  8. ^ "About Reliable Life Insurance Company". www.reliablelifeinsurance.com. Retrieved 2021-10-04.
  9. ^ "UL Mutual to become UV Insurance". UV Insurance. Retrieved 2021-10-04.
  10. ^ CPP-owned Wilton Re buys Transamerica’s Canadian business, Advisor
  11. ^ "Company information | ivari". 2015-10-19. Retrieved 2021-10-04.
  12. ^ "Amalgamation of Wawanesa Life and Western Life positions company for growth". Wawanesa Insurance. Retrieved 2021-10-04.